Returns for less than one year are not annualized.*Inception date for Class A Shares 9/30/2015.

Returns for less than one year are not annualized.*Inception date for Class C Shares 9/30/2015.

Returns for less than one year are not annualized.*Inception date for Class I Shares 9/30/2015.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted.

The maximum sales charge for the Fund’s A shares is 4.50%.

C shares include a 1% contingent deferred sales charge (CDSC) for the first year only.

FUND OPERATING EXPENSES — Class A Shares

Actual Annual Operating Expenses (fiscal year to date, as of 12/31/2017)

1.83%

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Thornburg Investment Management and/or Thornburg Securities Corporation have contractually agreed to waive fees and reimburse expenses through at least February 1, 2019 so that actual expenses do not exceed the net expense ratio above.

Expense Ratios – Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

For more detailed information on fund expenses, please see the fund's prospectus.

FUND OPERATING EXPENSES — Class C Shares

Actual Annual Operating Expenses (fiscal year to date, as of 12/31/2017)

2.37%

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Thornburg Investment Management and/or Thornburg Securities Corporation have contractually agreed to waive fees and reimburse expenses through at least February 1, 2019 so that actual expenses do not exceed the net expense ratio above.

Expense Ratios – Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

For more detailed information on fund expenses, please see the fund's prospectus.

FUND OPERATING EXPENSES — Class I Shares

Actual Annual Operating Expenses (fiscal year to date, as of 12/31/2017)

1.09%

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Thornburg Investment Management and/or Thornburg Securities Corporation have contractually agreed to waive fees and reimburse expenses through at least February 1, 2019 so that actual expenses do not exceed the net expense ratio above.

Expense Ratios – Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

For more detailed information on fund expenses, please see the fund's prospectus.

Dividends and Capital Gains — Class A Shares

Dividend (December 2017)

None Paid

Capital Gains for 2017 paid Nov 17, 2017

Short-Term (per share)

$0.30226

Long-Term (per share)

$0.06910

Total (per share)

$0.37136

Dividends and Capital Gains — Class C Shares

Dividend (December 2017)

None Paid

Capital Gains for 2017 paid Nov 17, 2017

Short-Term (per share)

$0.30226

Long-Term (per share)

$0.06910

Total (per share)

$0.37136

Dividends and Capital Gains — Class I Shares

Dividend (December 2017)

None Paid

Capital Gains for 2017 paid Nov 17, 2017

Short-Term (per share)

$0.30226

Long-Term (per share)

$0.06910

Total (per share)

$0.37136

HYPOTHETICAL GROWTH OF $10,000 as of 2/28/2018(Thornburg Better World International Fund vs. MSCI AC World ex-U.S. Index)

A shares with sales charge$12,796

MSCI AC World ex-U.S. Index$13,803

The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

HYPOTHETICAL GROWTH OF $10,000 as of 2/28/2018(Thornburg Better World International Fund vs. MSCI AC World ex-U.S. Index)

C shares$13,223

MSCI AC World ex-U.S. Index$13,803

The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

HYPOTHETICAL GROWTH OF $10,000 as of 2/28/2018(Thornburg Better World International Fund vs. MSCI AC World ex-U.S. Index)

I shares$13,651

MSCI AC World ex-U.S. Index$13,803

The Hypothetical Growth of $10,000 graph compares a hypothetical $10,000 investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Important InformationBefore investing, carefully consider the Fund’s investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit our literature center. Read them carefully before investing.

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Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

There is no guarantee that the Fund will meet its investment objectives.

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Important Disclosure: For Professional Investors Only

This area of our web site is only directed at non-U.S., institutional and professional investors and is not suitable for individual investors.

The information regarding funds for non-U.S. investors is for informational purposes only, does not constitute an offer for shares, products or services and should not be construed as an offer to sell or a solicitation of an offer to buy to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.

This site is operated by Thornburg Investment Management, Inc. on behalf of Thornburg Investment Management Ltd. and Thornburg Global Investment plc. Before continuing, please read the following important information and if you continue on, you confirm that you have read and agree to these provisions. Thornburg Global Investment plc is authorised under the UCITS Regulations and provides shares in UCITS registered Funds for non-U.S. investors. The Funds of the Company are registered in Ireland and are available only to residents of those jurisdictions where allowed by applicable law. Purchase orders from U.S. persons or other ineligible investors will not be accepted by the Fund’s Administrator.

Thornburg Investment Management Ltd. is an Appointed Representative of Robert Quinn Advisory LLP, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (no. 548030). Thornburg Investment Management Ltd. manages Thornburg's international business development and relationship management activities. Registered in England and Wales no. OC385286.

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